Yeah I think I'd like to see this work. If it's used for good things. Not sure who is right about whether it's allowed in the current terms; it depends on how you read it. My prediction though is that Apple will see it as enough of a threat to their control that they will either disallow it outright under their own reading of the terms, or they will tweak the terms to disallow it. But then... need I say... I could be wrong.
Anyway, there's no way they could lose (too much) control. The "native" part of the apps is still subject to resubmission.
The "react native" part is mostly UI layer/composition and business logic.